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Corporate Governance and the Information Content of Earnings Announcements : A Cross-Country Analysis
Lau, Sie Ting - 2016
Using firm-level data from 23 developed markets, we document a positive association between overall firm-level governance quality and the informativeness of earnings announcements measured by abnormal stock return variance. This finding is robust after controlling for the potential endogeneity...
Persistent link: https://www.econbiz.de/10013005750
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The market reaction to analyst stock recommendation and earnings forecast consistency : international evidence
Bar-Niv, Ran; Chen, Min - In: Journal of international accounting auditing & taxation 39 (2020), pp. 1-18
Persistent link: https://www.econbiz.de/10012299730
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The Role of Fair Value Accounting in the Global Financial Crisis : Evidence from U.S. Global Systemically Important Banks
Song, Guoxiang - 2014
Fair value accounting has been argued as one contributing factor to the recent global financial crisis occurred from 2007 to 2008. However, recent empirical studies find no significant evidence for this role of fair value accounting. One reason for this inconsistency comes from the weaknesses of...
Persistent link: https://www.econbiz.de/10013063697
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How do Individual Investors React to Global IFRS Adoption?
Brüggemann, Ulf - 2012
We examine the impact of global IFRS adoption on cross-border equity investments by individual investors. Our proxy for … following mandatory adoption of IFRS. This effect is more pronounced for attention-grabbing stocks (e.g., stocks experiencing an … increase in media coverage following IFRS adoption). Our results suggest that global IFRS adoption enhances cross-border equity …
Persistent link: https://www.econbiz.de/10013116847
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The Impact of Regulation on Information Quality and Performance Around Seasoned Equity Offerings : International Evidence
Fauver, Larry - 2017
We examine the impact of the enactment of the Market Abuse Directive (MAD) and the Prospectus Directive (PD) across 18 EU countries on seasoned equity offerings (SEOs). Using a difference-in-differences methodology, we document a significant reduction in earnings management, improved post-SEO...
Persistent link: https://www.econbiz.de/10012957207
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Do Investors Understand Really Dirty Surplus?
Landsman, Wayne R. - 2012
This study addresses whether firms' share prices correctly reflect two accounting measures, dirty surplus and really dirty surplus. Dirty surplus is readily observable from the financial statements, but really dirty surplus, which arises from recognizing equity transactions such as employee...
Persistent link: https://www.econbiz.de/10013115880
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The Economics of Disclosure and Financial Reporting Regulation : Evidence and Suggestions for Future Research
Leuz, Christian - 2018
the evidence on International Financial Reporting Standards (IFRS) adoption. Several important conclusions emerge. We …
Persistent link: https://www.econbiz.de/10012935619
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The Economics of Disclosure and Financial Reporting Regulation : Evidence and Suggestions for Future Research
Leuz, Christian - 2016
regulation (including IFRS adoption), drawing on U.S. and international evidence. Given the policy relevance of research on … reporting standards, including the evidence on IFRS adoption. Several important conclusions emerge. We generally lack evidence …
Persistent link: https://www.econbiz.de/10012998739
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The Earnings Announcement Premium Around the Globe
Barber, Brad M. - 2012
U.S. stocks have been shown to earn higher returns during earnings announcement months than during non-announcement months. We document that this earnings announcement premium exists across the globe. Using data from 46 countries, we find that the average stock return during earnings...
Persistent link: https://www.econbiz.de/10013114552
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How Does Private Firm Disclosure Affect Demand for Public Firm Equity? Evidence from the Global Equity Market
Kim, Jinhwan; Olbert, Marcel - 2021
We investigate the relationship between private firms’ disclosures and the demand for the equity of their publicly traded peers. Using data on the global movement of public equity, we find that a one standard deviation increase in private firm disclosure transparency – proxied by the number...
Persistent link: https://www.econbiz.de/10013222302